NOT LISTED FOR SALE

11619 Downey Ave Downey, CA 90241

3 Beds
3 Baths
12,154 Sq Ft
19,254 Sq Ft Lot

Last Sold May 28, 2014

Last sale price $2,350,000 $193 Per Sq Ft

31 Days on Market

About This Home

As of May 2014

Villa La Jolla has excellent street exposure along Downey Avenue, one of the main thoroughfares and most desirable streets to own apartments on in Downey. The property features private patios and balconies and on-site laundry facilities. The units have very large open ?oor plans consisting of one bedroom and two-bedroom units. The building has been extremely well maintained since it was built, providing tenants with an atmosphere of
quiet enjoyment. The property was built in 1972, making it one of the newer apartment complexes in the city, and is being sold by the original owner. The owner has maintained the property in pristine condition, offering a buyer the opportunity to purchase a turn-key building that has rents substantially below market. Parking consists of garages and open spaces, with 2 parking spaces per unit.

Last Agent to Sell the Property

Doug Rodermund

Morgan Skenderian License #01314304 Listed on: 03/04/2014

Last Buyer's Agent

Doug Rodermund

Morgan Skenderian License #01314304 Listed on: 03/04/2014

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1972

Lot Details

  • 0.44 Acre Lot
  • 1 Common Wall
  • Density is up to 1 Unit/Acre

Parking

  • 15 Car Garage

Home Design

  • 12,154 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 3 Bathrooms

Listing and Financial Details

  • Tax Lot 55
  • Tax Tract Number 13240
  • Assessor Parcel Number 6255013022

Community Details

Overview

  • 14 Units

Building Details

  • 15 Separate Electric Meters
  • 1 Separate Gas Meter
  • 1 Separate Water Meter
  • Gardener Expense $1,060
  • Insurance Expense $3,039
  • Maintenance Expense $9,809
  • Other Expense $1,000
  • Pest Control $600
  • Trash Expense $6,336
  • Water Sewer Expense $6,337
  • New Taxes Expense $28,953
  • Gross Income $13,623
  • Net Operating Income $99,804

Property Details

Home Type

Multi-Family

Year Built

Built in 1972

Lot Details

0.44 Acres

Parking

15

Listing Details

  • CapRate: 4.20
  • Property Attached: Yes
  • Water Sewer Expenses: 6337.00
  • Property Type: Residential Income
  • Gardener Expense: 1060.00
  • Parcel Number: 6255013022
  • Year Built: 1972
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 1 Common Wall
  • Levels: Two
  • Price Per Square Foot: 193.35

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 15.00
  • Total Parking Spaces: 28.00

Utilities

  • Utilities: Sewer Available
  • Pest Control Expense: 600.00
  • Trash Expense: 6336.00
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Curbs

Lot Info

  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 19248.00
  • Lot Size Acres: 0.4420

Multi Family

  • Gross Income: 13623.00
  • Gross Multiplier: 14.68
  • Gross Scheduled Income: 163476.00
  • Gross Spendable Income: 28254.00
  • Insurance Expense: 3039.00
  • Lot Size Area: 19248.0000 Square Feet
  • Maintenance Expense: 9809.00
  • Maintenance Percent: 6.00
  • Net Operating Income: 99804.00
  • Number Of Separate Electric Meters: 15
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 14
  • Operating Expense: 57133.00
  • Operating Expense Percent: 34.90
  • Other Expense: 1000.00
  • Other Expense Description: Admin
  • Rent Control: No
  • Total Actual Rent: 13475.00
  • Vacancy Allowance Rate: 4.00

Tax Info

  • New Taxes Expense: 28953.00
  • Tax Lot: 55
  • Tax Tract Number: 13240
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Property History

Date Event Price List to Sale Price per Sq Ft
05/28/2014 05/28/14 Sold $2,350,000 -2.1% $193 / Sq Ft
04/04/2014 04/04/14 Pending -- -- --
03/04/2014 03/04/14 For Sale $2,400,000 -- $197 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $37,821 $2,880,768 $1,225,859 $1,654,909
2024 $37,821 $2,824,283 $1,201,823 $1,622,460
2023 $36,574 $2,768,906 $1,178,258 $1,590,648
2022 $34,812 $2,714,614 $1,155,155 $1,559,459
2021 $33,857 $2,661,387 $1,132,505 $1,528,882
2019 $33,025 $2,582,451 $1,098,915 $1,483,536
2018 $32,095 $2,531,816 $1,077,368 $1,454,448
2016 $31,058 $2,433,505 $1,035,534 $1,397,971
2015 $30,620 $2,396,953 $1,019,980 $1,376,973
2014 $7,516 $428,772 $118,780 $309,992
Source: Public Records

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW14044534

California Regional Multiple Listing Service (CRMLS)
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